Kovitz Investment Group Partners LLC Sells 34,982 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Kovitz Investment Group Partners LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 23.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,610 shares of the company's stock after selling 34,982 shares during the period. Kovitz Investment Group Partners LLC's holdings in PepsiCo were worth $17,732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo in the 4th quarter worth approximately $28,000. Collier Financial bought a new position in PepsiCo in the 4th quarter valued at $28,000. Creative Capital Management Investments LLC purchased a new stake in shares of PepsiCo during the 4th quarter valued at $30,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo during the 4th quarter worth $30,000. Finally, Summit Securities Group LLC purchased a new position in shares of PepsiCo in the 4th quarter worth about $33,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research note on Friday. Bank of America decreased their target price on PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. CICC Research restated a "market perform" rating on shares of PepsiCo in a research note on Friday, February 7th. Finally, HSBC cut their target price on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $162.00.

PepsiCo Stock Down 1.4 %

Shares of NASDAQ PEP opened at $133.38 on Friday. The business has a 50-day moving average of $147.70 and a 200-day moving average of $153.92. The firm has a market capitalization of $182.91 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 3.09 and a beta of 0.49. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12 month low of $131.80 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.52 by ($0.04). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a dividend of $1.355 per share. The ex-dividend date was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 4.06%. PepsiCo's dividend payout ratio (DPR) is presently 77.99%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.

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